Region's jobless rate rises to 5.8 percent in May

At the same, though, Southwest Florida's work force swelled, a sign that more people who had not previously looking for jobs joined the effort.

By KEVIN McQUAID

The unemployment rate in Manatee, Sarasota and Charlotte counties rose in May, climbing a half-percentage point to 5.8 percent.

That trend was reflected statewide — with a loss of about 18,000 jobs — giving Florida the steepest drop in positions nationwide last month.

At the same, though, Southwest Florida’s work force swelled, a sign that more people who had not previously been looking for jobs joined the effort. That movement also could explain, at least partially, the region’s growing unemployment rate.

Unemployment also tends to jump between April and June each year in Southwest Florida, as seasonal and tourism-related positions end. In 2013, for example, the region’s 6.6 percent unemployment rate in April increased to 7.2 percent in June.

“Southwest Florida has been strong,” said Mark Vitner, a Wells Fargo Securities senior economist who follows the Sunshine State. “Sarasota has a huge seasonal component to it, and I think the May results had a lot to do with the late timing of Easter this year. But I don’t think it’s anything really to be concerned about.”

Last month, there were roughly 397,373 people in the regional work force, up 2,590 from April, according to data released Friday by the Florida Department of Economic Opportunity.

But there were 22,917 people still actively looking for work, as compared with 21,081 during April.

“A lot of the businesses we’re working with are expanding, so they are more optimistic,” said Sally Hill, a spokeswoman for Careersource Suncoast, the former Suncoast Workforce Board that operates a trio of employment centers in the region.

“But for people who are looking, some are telling us the market is improved but many others say it’s still really tough out there,” Hill said. “But I have noticed that the number of job losers is down and number of people voluntarily leaving their jobs is up. That’s generally a positive.”

Charlotte County had the region’s highest jobless rate at 5.9 percent during May. That compared with 5.5 percent in April and 7.1 percent at this time a year ago.

Manatee and Sarasota counties each had unemployment rates of 5.7 percent, records show.

During April, Manatee County had posted a 5.2 percent rate while Sarasota County was at 5.4 percent. They were at 7 percent and 6.9 percent, respectively, a year ago.

The May jobless rate also climbed statewide.

Florida’s 6.3 percent rate was slightly higher than in April, and for the first time in many months, the Sunshine State’s jobless rate matched the national jobless rate.

Still, analysts said they remain bullish.

“Florida’s labor market recovery remains strong,” said Sean Snaith, a University of Central Florida economist. “The improved pace of payroll job creation in Florida continues to boost growth in the labor force, and this is an indication of a recovering labor market.”

Snaith cautions, however, that overall gains will make further unemployment rate reductions challenging.

In all, there are roughly 606,000 jobless Floridians.

The bump in the rate was not totally unanticipated. Economists had expected it to grow slightly as more people began seeking work amid the continuing economic recovery.

“Minor fluctuations month-to-month are to be expected as people move in and out of the labor force for a variety of reasons,” Rebecca Rust, chief economist for the Florida Department of Economic Opportunity, wrote in a memorandum released Friday.

“Similarly, the state’s private-sector job trends have been steadily on the rise for over three years, showing that Florida’s businesses are responding to the state’s improving economic climate.”

Rust noted, too, that since December 2010, the state’s unemployment rate has fallen 4.8 percentage points, from a high of 11.1 percent.

“We had a big payback in May but that’s largely because the numbers are seasonally adjusted,” Vitner said. “But our analysis predicts the state will replace all of the jobs it lost in the recession sometime next summer. Miami is currently the only city in Florida to do so, but the rest of the state is on that path.”

EARLIER: The unemployment rate in Manatee, Sarasota and Charlotte counties rose during May, climbing a half-percentage point to 5.8 percent.

The same thing happened statewide — with a loss of about 18,000 jobs — giving Florida the steepest drop in positions nationwide last month.

At the same, though, Southwest Florida's work force swelled, a sign that more people who had not previously looking for jobs joined the effort — and one possible explanation for the growing unemployment rate.

There were roughly 397,373 people in the work force during May, up 2,590 from April, according to data released Friday by the Florida Department of Economic Opportunity.

There were 22,917 people still actively looking for work compared with 21,081 during April.Another driver in the rising May statistic could be the loss of some tourism-related jobs during the traditionally slower summer months, and after a booming spring high season. That same phenomenon occurred last year at this time.

Charlotte County had the region's highest jobless rate at 5.9 percent during May. That compared with 5.5 percent in April and 7.1 percent at this time a year ago.

Manatee and Sarasota counties both had unemployment rates of 5.7 percent.

During April, Manatee had posted a 5.2 percent rate while Sarasota County was at 5.4 percent. They were at 7 percent and 6.9 percent, respectively, a year ago.

The May jobless rate also climbed statewide. Florida's 6.3 percent was slightly higher than in April, and for the first time in many months, the Sunshine State's jobless rate matches the national jobless rate.

There are roughly 606,000 jobless Floridians.

The bump in the rate is not totally unexpected. Economists had expected it to grow slightly as more people start seeking work as the economic recovery continues.

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